Conduct an Internet search to learn how insurance companies report potential future loss contingencies. Be prepared to discuss.

Conduct an Internet search to learn how insurance companies report potential future loss contingencies. Be prepared to discuss.Go to the CFO Magazine’s Website to read the article titled “ Enron’s SPEs: Can Banks Have It Both Ways?” dated July 25, 2002, located at http://www.cfo.com/article.cfm/3005728/c_3036065. Be prepared to discuss. Go to the Independent’s Website to read the article titled “ Fraud Charges Loom for Lehman Bros,” dated March 14, 2010, located at http://www.independent.co.uk/news/business/news/fraud-charges-loom-for-lehman-bros-1920944.html. Be prepared to discuss. Go to the Daily Finance Website to read the article titled “ Fraud Files: Is Ernst & Young to Blame in Lehman Bros. Fraud?” dated December 23, 2010, located at http://www.dailyfinance.com/2010/12/23/fraud-files-is-ernst-and-young-to-blame-in-lehman-bros-fraud. Be prepared to discuss. Insurance Losses" Please respond to the following:From the first e-Activity, recently, property/casualty insurance companies have been criticized because they reserve for the total loss as much as five (5) years before it may happen. The IRS has joined the debate because it says the full reserve is unfair from a taxation perspective. Speculate as to why the IRS would take this position. Support your speculation with evidence or examples and cite the Websites used in your research.Lehman Brothers" Please respond to the following:From the second e-Activity, compare the methods used by Lehman Brothers to improve its financial statements to those of Enron. From the third and fourth e-Activities, take a position whether Ernst & Young should be held liable in relation to the fraudulent financial statements of Lehman Brothers. Provide a rationale with your response.